The Breton solar specialist group continues its external growth with a third acquisition since 2020: that of Systèmes Solaires, a company dedicated to the installation and maintenance of photovoltaic plants for professional clients. This move marks a new milestone in the group’s national expansion strategy. Experts from AURIS Finance, a mergers and acquisitions advisory firm, analyze the stakes of this market development.
Émeraude Solaire has just announced the acquisition of Systèmes Solaires, based in Puy-de-Dôme. With this new acquisition—the third since 2020—Émeraude is consolidating its geographic coverage and reaching a new milestone. Prior to the transaction, Émeraude reported €85 million in revenue and 170 employees, with operations in Miniac-Morvan (Brittany) and Floirac (Gironde). It now owns Systèmes Solaires, a company with €37 million in revenue. Following this deal, and once the transaction is finalized, Émeraude Solaire is expected to exceed €100 million in revenue.
Regional Consolidation and New Synergies
Driven by genuine organic growth and an aggressive external growth strategy, the group aims to become one of France’s leading solar providers for professionals. The acquisition of Systèmes Solaires enables Émeraude to strengthen its territorial network in the center-east of the country. Among the anticipated synergies: shared engineering capabilities and procurement. Founded in 2007, Systèmes Solaires specializes in the design and implementation of photovoltaic plants for professional clients, including local authorities, major accounts, farmers, and SMEs. The company employs 55 people and has a significant installation capacity, deploying between 1 and 3 megawatts of solar panels each week. In 2024 alone, the group installed 130,000 solar panels.
Controlled External Growth
Since 2020, when Xavier Borel took over Émeraude Solaire with support from Crédit Agricole, BNP Paribas Développement, and UNEXO, the group has come a long way, establishing itself as a key player along the Atlantic Arc. The company, which designs, installs, and maintains photovoltaic plants, expanded into Gironde in 2022. Systèmes Solaires’ presence in the Auvergne–Rhône-Alpes region and neighboring areas gives Émeraude access to new markets. This acquisition is Émeraude Solaire’s third since 2020. In 2022, the group acquired Inelia, a B2B solar specialist in Nouvelle-Aquitaine, followed by Drop’n Plug, a pioneer in mobile charging stations and batteries. Through these three acquisitions, Émeraude Solaire is building a comprehensive energy value chain, from solar production to storage and mobility.
Our Experts by Your Side
This new development underscores the dynamism of the solar energy market. In France, 5 GW of new solar capacity was connected in 2024, compared to 3.5 GW in 2023—a rise in installations driven by regulatory frameworks and the gradual reduction in equipment costs. Amid energy inflation, demand from businesses and local authorities is increasing. Further market movements are expected in the coming months. AURIS Finance’s experts specialize by sector, supporting clients in sales, acquisitions, and financing operations.
